London, Oct. 27, (DPA-AFX/GNA) - British retail sales expanded strongly in October after last month’s decline, the Distributive Trades Survey from the Confederation of British Industry showed on Thursday.
A net 18% of retailers said their sales volume increased in October, in contrast to a net 20% reporting a fall in sales in September.
However, 9% of them forecast retail sales to fall next month.
About 20% of respondents said sales were seen as good for the time of year in October, following a slightly disappointing 7% last month.
Retailers said that sales will be broadly in line with seasonal norms next month.
Around 16% of retailers said orders placed upon suppliers are set to fall next month.
Martin Sartorius, CBI’s principal economist, said: “Retail sales volumes recovered to grow at a firm pace this month, but retailers continue to face a challenging operating environment due to rising costs, higher interest rates, and labour shortages.”
GNA